Around 40 countries including South Korea have promised to assist Ukraine with its transparent and democratic recovery from Russia’s invasion.

Swiss President Ignazio Cassis held a press conference wrapping up the Ukraine Recovery Conference in Lugano, Switzerland on Tuesday and announced the Lugano Declaration containing seven principles of Ukraine’s recovery.

The declaration, signed by representatives of around 40 countries and over a dozen international organizations participating in the conference, stressed reform, transparency, accountability and the rule of law in the recovery process, as well as democratic participation.

Second vice foreign minister Lee Do-hoon, who attended the two-day meeting as the top South Korean representative, expressed Seoul’s solidarity with the government and people of Ukraine.

In a speech delivered during a plenary meeting on Tuesday, Lee said South Korea will be able to contribute to Ukraine’s restoration in areas including infrastructure, basic social services and public governance.

It is estimated that it will cost about 750 billion dollars to rebuild Ukraine.